In which I break down why billionaire "charity" is terrible for the planet, and why we should stop swallowing their myths. Support my work on Patreon: / adamconover
Charity then. They already pay taxes above what you and I pay, even as a proportion of their income. It's really about billionaires not accepting, and finding ways around, the additional taxes we decide to levy upon them to benefit ourselves or punish them. After all, none of those taxes are meant to give benefits to billionaires in proportion to the taxes they pay.
they do. In order to pay the kind of taxes you and Adam want paid, that would have required SELLING STOCK TO COVER TAXES. That much stock sold would have tanked the stock value.
@@timmytimmy105 it’s not in the interest of fairness. It’s to stop the obscenely rich from hoarding wealth and power because that doesn’t really work if you want a democracy
The world doesn't NEED billionaires. There isn't a one of them that hasn't built themselves up without hurting someone in the process. The idea that we glorify that is terrifying. Also Adam uncensored is my new favorite thing.
because frankly everyone in some way wants that life. Not have to worry about money? Ever. A new phone being chump change? Not having to work. Ever. Unless it's a passion project. Being able to live wherever is most comfortable and move with the seasons if you wanted to. It's alluring and most people don't think about what they had to do and say and be to get there. They just glorify the lifestyle that comes with it.
@@DanielKolbin While that is true the larger truth is simply that in order to become billionaires and maintain their inordinate amount of wealth they hurt millions of people rather than the 100's or 1000's that a typical person might in there life time.
That Franklin D. Roosevelt contracted Polio before his political career really took off, might be one reason why he was such an exceptional historical figure. To mitigate the pain that the disease inflicted, FDR regularly visited a rehabilitation center at Warm Springs, Georgia where he would bath alongside normal American citizens who also contracted Polio. In addition, during WW2 his sons fought alongside other Americans and his son Quentin died in the air battle of Europe. I believe that theses hardships made FDR realize that their is no sense in accumulating wealth and power, but instead true meaning lies in serving the people of your country. However, while FDR's politics demonstrated that the poor can prosper alongside the rich, many of the succeeding presidents knowingly dismantled the new gained rights of the working class. So I agree with Adam, a democracy cannot rely on the aptitude of the wealthy. Power must be distributed among men to prevent the chosen few from exploiting the poor and the environment we all live in. Neo-liberalism has failed US.
The number of people annually making what a billionaire makes *per day* who will die on the hill of defending billionaires will never stop surprising me.
Because they have a dream that they will be the next billionaire looking down at the peasants making their money for them one day. A hollow dream for the vast majority of them.
@@rayravernous4376 the average person has a higher chance of getting struck by lightning and winning the lottery on the same day than becoming a billionaire.
You've just described most, if not all, NON rich right wingers that are doing something MUCH easier than ACTUALLY becoming rich. Their ignorance of history is almost as painful as their "defense" efforts!
@@dominicrutherford4498 I don't have a problem with wealthy people. I have a problem with people that are *fabulously* wealthy. There are plenty of fine and upstanding millionaires. Who worked very hard at small businesses and tried to do right by their employees. Paid their taxes and gave back to their communities. There are, however, no good billionaires. To accrue that money in the first place one MUST engage in evil at some level. Whether it's as simple as not paying your employees their share of the fruits of their labor, or as complicated as cheating on all of your taxes and abusing everyone you come into contact with.
@Anon-ir5nt All of that can be done while paying your employees well. If you're a billionaire it means you've extracted wealth from the business to enrich yourself, whether that be by holding shares (which could be sold to raise capital to pay your workers more), pumping up shares to the detriment of the rest of the business, or paying yourself exorbitantly. Paying your employees well and treating them properly increases employee retention which increases the level of experience and skill you can hold in your company, it increases their loyalty and morale which benefits productivity, and it lures the highest levels of talent who are seeking pay commensurate with their abilities. Concentrating the wealth (whether it be in liquid wealth or in shares) in the hands of a few is simply them extracting the value of the company for personal enrichment, and once we get into the BILLIONS, they're doing it at such a rate that it is inherently immoral.
@Anon-ir5nt Shares are typically split into preferred and common stock so the actual "decision making" shares aren't necessarily the same as the "slice of the pie" shares, in fact they rarely are.
@Anon-ir5nt Oh sorry, missed the last one- CEO doesn't technically need any shares, in most corps' cases they are simply the person appointed by the board to oversee executive action for the company. They usually DO have great stock options as part of their compensation, but it's not technically related. If you own a controlling share of preferred stock, you CAN simply name yourself CEO, though.
You probably won’t ever come across this and read it, but thank you Adam for putting out videos like this! These are the kind of stories that need to be told and put out into the public for others to learn from. Only when we know about these issues can we do something about them.
I always wondered why the Billionaires insist on setting up new charities rather than finding the plethora of existing charitable organisations … thanks for the answer
why do billionaires insist on ____? To make more money and gain political influence. With 1 billion dollars you could spend 35k per day for 80 years. The only reason they do ANYTHING is because money and influence doesn't buy happiness for them, it IS happiness to them.
In many European countries, I don’t know about US law, Familie foundations can spend 1/3 of their income on the personal expenses of the owner and it’s closest relatives basically tax free….. you will not find a better bank
What did Bill Gates get out of it? The only criticism on here appears to pertain to his private life. He’s done amazing things for neglected diseases in developing countries
"Finally, a billionaire willing to smack back at capitalism" is one of the most potent oxymorons I've ever read; mentally flashbanged me when it popped onscreen.
Yeah you can't really "smack back" at something if you're a key player. It's like saying the president of the United States is smacking back at the political system. Like???
Lost track of you for a few years there, but saw the clip of this about Buffet "NO HE FUC&ING DOESNT" clipping coupons on TikTok and was thrilled to learn you still fight the good fight.
@@thewalkingcrow8946 Instant billionaires don't stay billionaires. Those people rarely if any time know the financial loopholes of knowing how to keep it
I have to admit. I was one of the Patagonia Fanboys, who was pissed about your tweet. But after watching this, and hearing you say, "cheering on the abuse of the system just because you agree with the cause doesn't make sense" really made me realize how correct you are. Thanks for this.
This guy has a history of intentionally twisting facts and omitting ones he finds annoying. Maybe he is right, but historically if you have to lie to prove your point, maybe your point need correcting.
@@maxlopolo2415 ok but this is entirely accurate. Idk him but he seems to have a very good grasp on reality based on this. If you're unsure whether this take is a good one, you should definitely do some more research bc there are some critical foundations here that are worth thoroughly understanding
@@maxlopolo2415 Maybe? Dude, if the rich guy wanted to use his money for actual charity, why not form a 501c3 and not a 501c4 or just give the money to a 501c3? Stop defending rich people, they don't care about you.
@@spanio just watch his Joe Rogan debate, or the multiple videos showing his twisting of facts. Like the one episode of Adam Ruins Everything where he talks about racism in sitcoms and says that only Asian Americans were put in interment camps (which he classified as concentration ones), and flat out says German and Italian people weren’t sent into those camps “because they were white”, when Italians and Germans very much were sent into those camps, Italians especially so.
Americans vote like they are going to be a millionaire sometime in the near future except it will never happen but the dream of being a millionaire makes them the actual millionaires bitches and it hurts to watch.
I saw a tweet that Warren Buffet sent a couple years ago that said something about taking a break from stress and it struck me because working for Geico was the most stressful job I’ve ever had. They’re so obsessed with numbers that all they do is constantly pressure employees to be more perfect with regular threats of firing people. I heard sales supervisors yelling at their team because they needed to sell more. I was told to speak in a high voice because customers like that and was criticized for not moving my mouse fast enough during a call. They demoralized employees and had someone crying on the floor daily. I thought “this is why Warren Buffet is so rich.”
He was on the news in Australia last year when an injured lady who was paid compensation for a car accident was sent a letter by Buffet requiring the several million returned because they found her car maintenance schedule was lacking, it was on all the current affair shows but I dont know how that finished up, she didnt have the money. I found it particularly galling and surprising.
What you mean is constant low balling and ripping off customers - Worst claim process ever was geico - constant and blatant ripping off on residual, parts etc.... They should at least attach a cigarette to the claim forms
@@khadeejones1136 I mean, theres still a big difference, adam as a dude just likes providing information, adam as a character thinks hes better than you and is doing you a favor by telling you things
@@Badusername2000 Oh, I didn’t mean to say that they’re literally the same person. I just meant that to say that he actually likes debunking misconceptions outside of his TV persona.
"Why There's No Such Thing as a Good Billionaire" would make a great series with each episode presenting an expose on a particular billionaire and/or family. Especially the lesser-known ones. There are over 800 to pick from just in North America alone. Would love to see something like this about KC Irving (a tax-dodging pioneer) and family.
Can you imagine the amount of money the richie-riches would level at him to try to stop such a thing from happening? I would love to see it, but if Adam made this more than a easily glossed-over RU-vid video piece he would have a target on his back in minutes.
It's sort of mind-blowing how many wealthy people there are. I found out recently that there are nearly 90,000 individuals in my state who make $1 million of more a year. Of course there are far, far more poor people. It was just easier to put up with being poor as shit when I thought there were only a few rich people here and there.
First video i've seen of yours since the old Adam Ruins Everything Days. I love this format. It's informative, well put together, and researched. I'd love to see more of this type of video.
And then the IRS goes after the little people just a couple grand but won’t go after billionaires who avoid paying millions of dollars in taxes. Seems fair, right?
His summation gave me chills!!!! Talk about breaking it down!!!! And not with spurious tenuous arguments that rely on black and white thinking!!!! True history of the subject matter broken down with chronological accuracy and historical veracity!!! Well done sir. This helped me sort out a lot of things I have been considering regarding the subject of wealth, and more importantly how it's accumulated. Keep up the excellent work!!!! 19:09
@@SinHurr Well yeah Sunak stole a whole country and I have nothing in common with him, well neither of us drive our self's but I use mass transit instead and he uses private jets instead
Economically, you’re closer to being homeless than you are to being a billionaire. You’re always one accident, one mistake, one con away from being destitute, but you’re never the same “oops” away from being a billionaire. People do not respect the power of the “0.” 1,000 dollars makes a difference. 1,000,000 can set someone up for life with enough knowledge. 1,000,000,000 is 1,000,000 * 100. 1,000,000,000 is enough for one person to try and fail 100 times to succeed over the millionaire. It’s enough to provide for that individual’s life and many other’s over. Billionaires are immoral when people are dying of preventable things.
Most Americans are more economically similar to the average worker in China than they are to the Millionaires and billionaires they just want us to think that one day we could be a millionaire like them in this horrible system we call capitalism
There's a guy that lives in my town that made some great investments when he was younger and is now a multi-millionaire. His home is smaller than mine. He never buys new cars, he hardly ever goes on extravagant vacations. He literally donates the vast majority of his wealth back into our community. Most people don't even realize, because he always donates anonymously. I only found out recently when he made a donation that allowed the local fire department (where I am a member) to purchase a new tender. I know there's no such thing as a good billionaire, because if they really were that good, they'd never have amassed that amount of wealth to begin with.
See, I can believe there's good millionaires. There's quite a few ways to become a millionaire. Hard work and connections, family wealth, even the lottery. But there is absolutely no way to become a billionaire without breaking some laws and/or exploiting loopholes and leveraging power. I don't think people realize how much just one billion is. It's impossible to get that much through fair means.
I’ve watched every single episode of Adam Ruins Everything, and was so ANGRY when the networks did away with it, now that you’re on RU-vid, I’ll be watching every single one of these! Please don’t stop making these!
Oh yeah he’s the best! It’s easy to live in an echo chamber these days but listening to other opinions is essential. I’m a lawyer and I love outdoor activities like hiking, but I can’t afford/choose not to overspend on Patagonia gear.
Doesn't he have something vaguely similar on Netflix? I forget the title, but it was like Adam Ruins Everything, just with an unnecessarily high budget.
@@halburke2947 Buffet is donating the the Bill Gates Foundation. Not to BG. And the criticism here of BG appears to be of his personal life, not his use of money for charity. That part of this was poorly done
@@drrush3421 bill gates is buying up tons of farmland. To the point where pretty soon if you don’t have a generational farm or ranch, you gotta make a deal with BG just to raise animals or grow food. It seems he wants to control a lot of the food supply
Yet when I talk like this people call me a communist. 🙄 Thanks for saying this. As a person who has worked in the nonprofit world, where we are doing a lot of good most of the time, I'm deeply uncomfortable with how we're funded. And these are *real* nonprofits, not just political power grabs like this.
It must feel exactly like eating a rabbit. I recommend you eat more rabbits and try to just suck it up and cope more. But. I think it's still of educational value to also take time to talk to each other about how dead rabbits can make our tummy upset. Off the top of my head I don't think there is getting around the fact that we fundamentally sustain ourselves in so many ways by things we find objectionable if we think about it. I think the codependency on what upsets us is unavoidable. All the more reason to talk about it with each other.
I'm more of a socialist but I consider communist a complement at this point because if caring about the welfare of other people over profits and corporate interests is communism then I guess I'm communist, I'd rather be a communist with a heart than a capitalist sociopath
@@jasonarmstrong5750 communism is where the means of pruduction beling to the workers because they seized them, this system has never been implemented yet, some countries can claim they are communist but they aren't
The tone shift from snarky pot shots at billionaires to "Fuck you! How gullible do you think we are?" Has me absolutely wheezing. The whole video has a comedic tone to it until Adam Conover is yelling fuck you straight into the camera. I love it and can't explain why.
@@JohnDoe-og2bt sure, why not? Any system you set up will have a couple kinks in it, but the theme of this video is that quite a number of these charities are a distraction from the wealth and power these billionaires exert for their own selfish gains.
A Guardian article called "The lesson from the ruins of Notre Dame: don’t rely on billionaires" really made me think twice about how rich people do "charity".
The rich has never done charity. At best they just white wash their image because one of the underlings they employ said it had to be done for the sake of propaganda. At worst they are waging a bitter class war against the people whose labor they steal for themselves.
The Facts that Marxists can't tell the difference between one million and one billion, treat working a 40 hour week like it's chattel slavery as you whinge on a magic box like the gentry discussing society matters over scones 200 years ago, and seem to genuinely believe that Humanity would provide everything for you for free if you destroyed your own economies with bolshevik revolution, tells me Marxists cannot ever be trusted with the economy. Time for you Tankies to get back in your depots, and let WESTERN Socialists teach you some Facts & Logic so you can learn how to make better arguments, or more simply put, get out of, and stay out of our way. "Russian Communism is the illegitimate child of Karl Marx and Catherine the Great" - Social Democrat Clement Attlee of the British Labour Party. One of a long line of BRITISH Socialists starting with Robert Owen. Did more for humanity than the rancid randy bigot Karl Marx, peasant-murdering Lenin, or any of the 100% failures of Bolshevist revolution have ever achieved. Lenin and Stalin brutalised the Russian people and Eastern Europe so much, objectively fewer would've died of famine and been forced into CANNIBALISM under the Feudalism of Tsar Nicholas. Prove me wrong.
@@StasLevich Not only did nothing happen, but those who actually paid received so much tax cuts they ended up having huge returns on investment, essentially nullifying their donation and impairing the reconstruction's budget.
People love to humanize billionaires because the more human they seem the easier it is to assume that you can be just like them. It's just a form of ego self-sucking, and they'll act like everyone else is wrong
@@themusicman669 You're forgetting a lot that didn't have that wealth at birth rich people had connections to the right people/opportunities most average person didn't/will not have
@@randomtinypotatocried When you say “rich”, what are you suggesting? Millionaire or billionaire? Most MILLIONAIRES in America are self made. Also, who’s stopping any of us from making certain connections? Just because certain people are born with certain advantages doesn’t mean others shouldn’t try. Wealth doesn’t just happen in a vacuum.
@@themusicman669 MOST millionaires are self made, you say? You wouldn't have any data to support that claim would you? Because it sounds completely made up to me. I would guess the vast majority of millionaires inherited their wealth, but please go ahead and prove me wrong. Let's see the numbers.
"Socialism never took root in America because the poor do not see themselves as an exploited proletariat, but as temporarily embarrassed millionaires." -John Steinbeck.
Interesting that you said “it’s a new gilded age” of hero billionaires The met gala theme this year was “Gilded Age” and those events are always very symbolic for the oligarchs
Ha! Yes, it was. And the vast bulk of the celebrities couldn't get the theme right in their outlandish costumes. Probably far too ignorant to actually understand what "The Gilded Age" refers to. A few got it right, though.
I’m so glad you’re bringing this to light. I recently had a conversation with my partner on what we’d do with that kind of money. I said I wouldn’t be a billionaire for long, because I’d put all of it into conservation efforts and essentially “lose” it for the sake of saving Mother Earth. But that’s probably why I wouldn’t become a billionaire in the first place. Also, why do we see any other kind of ‘hoarder’ as having a mental illness with just about everything else, but not when it comes to money?? 🤔
YES!! Hallelujah! Finally someone else called them exactly what they are and I've been asking that very question for years now. To many cats, to many newspapers = mental illness; to many dollars, cue the line of sycophantic kiss-asses ready to do anything for them. Best part about that is most of these nut jobs are notoriously cheap. How do we suppose they keep their money?
lol. you just dont understand money. generally, people give you money because they like what you give them in return more than the money. you arent saving mother earth. (the environment for our sakes) if you do something to make money, people are actually thankful. they show that with money. Make a new solar company if you want to cut petroleum use.
I work for Patagonia and I completely agree with all of this! We (the bottom rung employees) were left shocked and confused by the “donation”. Upper leadership NEVER spelled it out as eloquently as you just did. Thank you
@@toyotaprius79 Syndicalism gets it from the Left (Socialism) & the Right (Mercantilism) because it results in superior allocation of resources with higher growth potential.
@@toyotaprius79 no entrepreneur would be willing to take the risk to create a new business because he could simply work for another company and co-own it without the risk of loosing his savings and without risking to be in debt. The economy would collapse, take an economy 101 class
@@toyotaprius79 LOL, No they shouldn't. Have you ever worked? Ever? Most workings are fucking stupid. They have no business making decisions on what to eat in the morning let alone important ones.
Adam just found this and saw you were doing something similar to Adam ruins everything. Which was my favorite show and I referenced all the time. Love that your back doing this stuff! Keep the good shit coming!!!
Also, even if he does, that doesn’t change a single thing about his wealth, status, how he got it, and the we won’t get to his place by just doing those small things.
We had shares in the same company, I didn't own that much, while he owned a lot more. Every advantage counts, I mean everything, nothing is left to chance.
I'm reminded of Papa John Schnatter's story about how he sold the car he loved to buy his first Pizza oven and then later as a multi-millionaire he threw a party at the company to announce that had bought the car back and had it restored. The PR piece was all about "look how successful he is, having started from nothing" Meanwhile his staffs reaction was "Why should I give a shit? Look at how successful he is thanks to all my hard work"
@@nobodyknowsforsure Thank you for saying this. The comments section here is just loaded with jealousy. Everyone wants something for nothing. They rail against someone who built a pizza company and have zero ability to do it themselves. As for the downtrodden employees, they don't have to work there and, in fact, would not even be there (by their own choice) had he not started the company. Perhaps they should start one themselves if they think they can do better.
@@ckathemanthe comment section is filled with righteous indignation at the baffling existence of real life vampires that feed on the life force of innocent humans. Even more baffling is the other humans who side with these demons of the night, no doubt in the hope that they will have mercy, giving them the honor of converting them into mindless thralls, forever slaves to their beloved master.
I loved your show, was excited to see you started a RU-vid channel. I gotta admit I really love unfiltered Adam lol Honestly your videos are really refreshing.
It's really interesting growing up in Arkansas with the presence of Walmart looming over. The hero worship doesn't stop in the town, a lot of Arkansans wear it like a badge of honor because: "That guy made it, and he's from here!" Never mind that you can see exactly what Adam describes by traveling to any of the small towns around the state. You'll find at least one Walmart, but it's basically the only job in town and the pay is shit. It's even worse in underprivileged areas because the only jobs are fast food or Walmart and neither of those pay or treat you well but you can't quit because, like I said, they're the ONLY jobs in town. It's frustrating to watch.
It’s called freedom (freedom for capitalism and capitalists to do whatever they want including start a war or invade another country) and democracy (99.9% elected officials are in Capitalists back pockets). It’s all written in the constitution like the bill of rights only applies to wealthy landowner and business man.
That psychological phenomenon where people take pride for something someone associated with them did but they personally they never did? Its called "basking in self reflected glory". Its the same thing that sports fans do when their team wins, even though they personally didn't have anything to do with how well their team performed. Like anything, I think the good/bad of this whole thing exists on a spectrum, meaning it could have positive, neutral, or negative effects.
And for context, Walmart beats out every small business in the area because they can undercut prices of the competition. It is a deliberate tactic that they use over and over again to maximize profits. The REASON the small towns in Arkansas suffer even though they have a big corporation like Walmart as a presence is BECAUSE it’s killing small businesses. Walmart’s profits do not get reinvested into the local economy like a small mom and pop store would. They go directly back to Walmart to be reinvested into another location to leach off of. So for anyone with the argument that this isn’t the fault of the corporation? It absolutely is.
@@thejinn99 It's destructive if done subconsciously or passively if you will. The thing you described a positive light when active is pride in another. Appreciation of their abilities. But passively it's mindless affiliation that discourages critical review and downgrades decision making.
I stopped shopping at Wal-Mart 15 years ago for this exact reason. I've also never made a purchase at Amazon because i feel it is also bad for our society. These giant corporations, regardless of how convenient, funnel our money straight out of our communities while placing worldwide communities into wage slavery. I buy as locally made as possible.
Dolly Parton is the best illustration, IMO, of why there are no good billionaires, outside of this. She could easily have been a billionaire after her decades of fame and fortune, but she actually donates to real charities and finds things to invest in to help people. I knew about this story, but this popped up in my recommended and had to watch it all the way through to support this kind of content. Citizen's United and trickle down economics have destroyed the US.
And then Taylor Swift donates to charities. She’s been donating to countless amount of food banks. And then she gave $100k to all of her truck drivers employees. I love her for this reason.
@@jeffvalentine9947 100K is 0% of her net worth. Its 0.128205128% of her net worth actually... which when rounded is 0%. Figures like 100k seem a lot to folks like you and me because to us - it is. It can change what food we eat or what apartement we rent (for awhile). But to her that is actually nothing, and donating it is good branding. Imagine knowing you could donate a few dollars and retain the love and relevance of your target audience.. thats's how marketing thinks. 0.1% of me AND my spouse's wealth is $89. We spend that on just groceries every week. Heck... I think we've donated around $50 so far this year - which means we've already proportionally donated half of what Taylor has dropped. And by the end of this year we will likely have given a larger percentage of our wealth than she does hers. Millionaires might not be in the same realm as Billionaires but they are bad for the planet and for society all the same.
She doesn’t just donate to charities. She uses her wealth to directly help people, which is what really matters. I haven’t found any charities that actually help people or animals
@@NJerseyBoy Though I don't really fact check him (because I don't use any of the information I learn from him, otherwise I would fact check), I've heard he does tend to get a bit wrong. At the very least, I'm glad he cites his sources which is a step A LOT of people skip over (granted, I haven't watched this video yet... for all I know, he might not cite the sources like his show's research team did).
This was incredible, please do more stuff like this. There is not nearly enough palpable anger in the general conversation and we need intelligent, well-spoken people like you igniting the fire under society's ass.
Heck, you can cover the Walmart museum in a video on its own -- why do you think the family donates their art pieces (that they got to over inflate art prices to begin with, art = money laundering is another topic!), they pass down the art to avoid taxes on passing down the art to their kids. The museum that made you feel good is a god damn tax sham!!!! ha-ha The Waltons donate the art, they can take it out or sell it whenever they want.
@@R9naldo - Thats not true at all. Id wager logically that most technological advancement comes from small projects (colleges) and government funded research. Im sure there are some great examples of a billionaire self funding some wing-ding project -- but usually what i see is that the thing already exists in some form, the developers "shark tank" it, and they just buy it up or buy up all competition. Back when corporations paid a 90% corporation tax - they actually DID self fund research because they would have to pay it in taxes anyway -- but you're talking 60 years ago. And they weren't making billionaires at the same time (still had filthy rich people). The myth that billionaires fund things or create jobs is false. We would have as much, maybe more, technological innovation if funding was more evenly distributed and there was actually way more competition and investment outside of their shareholders pockets.
As someone who grew up in Bentonville, I can say that the Waltons' investments and improvements to the town and basically all towns in a 20 mile radius have been incredible over the years. The once forgotten and decrepit downtown areas have been transformed into lively places for art and culture, things that we never really had much exposure to before. The Crystal Bridges art museum brought many pieces of historically significant artwork (that most of us had only ever seen in textbooks) right into our back yard and for FREE! The impact of Walmart on the communities has enhanced the lives of many, but it's important that people are very aware of the harsh impact the company has forced onto many other rural towns across America.
I too grew up in Bentonville .Went to school there lived there until I was 40 . Walmart pushed out all the locals brought in transplants and basically brainwashed the community I don't know how old you are but I think I'm older than you so I remember Bentonville when Sam Walton was alive it was a much better place then!!!
The youtube algorithm actually delivered relevant, high quality content for once. Unbelievable. Hope to see more stuff in this vein from Adam Conover. Cheers.
The algorithm actually predicts what it thinks you've been interested in by your history & conversations I'm a big advocate for socialism so I'm frequently getting videos like this, Second Though, Climate Town, Vice, and other channels that discuss our socioeconomic structure & climate being exploited by capitalism If you liked this video, I recommend you watch basically any video by Second Thought
Adam Conover does have good topics, but his research is often very surface level and draw incomplete long conclusions from that little information. There's some fact checking videos based on his videos. But this video is really good!
A billionaire donating to a fund or charity is not a donation. It is cashing in their fortune for influence, which I think you highlighted very well. Wealth inequality will always exist, but the current imbalances are just off the charts. Excited for more episodes, Adam!
I don't like the concept itself of Billionaires, but regardless, a few of them have, and are doing, more good for the world than the casually racist anti-semitic homophobe, seriously cheating, womanising misogynist Karl Marx ever achieved, more than peasant-gassing Lenin ever achieved, and certainly more than the grotesque Stalin and other perverters of Socialism. Bill Gates for example, has had a huge positive influence on history that is hard to comprehend "Russian Communism is the illegitimate child of Karl Marx and Catherine the Great" - Sir Clement Attlee, Social Democrat, Labour Party Prime Minister of post WW2 Britain. Helped launch the NHS, Welfare State, and started freeing our former colonies. Tried to meddle with Stalin despite us lacking resources and means. He and other *British* Socialists of the trade unions, guilds, chartists, and Robert Owen, all did more for the poor of country, west, and world than today's TRIGGERED, Virtue-Signalling Marxists ever, ever will.
@@octapusxft While true, as discussed in the video, it's really important to make sure we don't let "at least he's not as bad as ___" become a counter to the main over-arching thesis: Anyone, regardless of the benefactor's professed intentions, shouldn't have the ability to inherit the kind of economic and political power Charnad's children have.
This is my first time seeing one of Adam's new videos and hearing him swear is so oddly satisfying. I kinda like this version of him better than the squeaky-clean know-it-all from "Adam Ruins Everything."
I do have a place of my heart for squeaky clean Adam? He was a character that comforted me quite a lot through middle school and that content format helped me with my writing in high school, but I agree with you that this version of him is better, it's more honest and his criticism feels more authentic
I love the information and ideas! Keep it up! This is exactly what many of us need to know and understand. The bullshit PR that has been put out is beyond what most individual can digest and comprehend by themselves. When we get a community that can digest this together we get awesome videos like this!
I worked for a billionaire who fell along these same lines. He was just a “humble immigrant farmer.” But if you look through the layers, he was actually greedy and gross.
I seriously love that you addressed the whole issue of “it’s okay when your team does it”. That really can be applied to so many things going on over the last few years.
If I had to pick a political party, I definitely could. I have a "team" so to speak, but I'm never above pointing out the stupid or evil shit they do. I'll still try to act pragmatically and move as best I can towards a better future, but I won't do it with my head stuck up my ass. The amount of people who will demonize everything the other side does and grant blanket forgiveness for it when it's done by their own side is... well it's basically everyone isn't it?
@@anthonybowman3423 Well, except for leftists who viciously criticise each others even over minute misunderstandings let alone over how to run a country.
@@cezarcatalin1406 I think more often than that, some politicians just get kind of "departied". Like McCain did a few years ago. From Republican lead candidate for president to "RINO" in a less than a decade. You have to tow the party line in this quazi two party war or get cast out. I get why the parties would act the way they do, given the political climate they exist in. Though I would like to see more attempts to change that climate instead of just continuing to work in a broken system. But then I understand why that's hard to do too. Even if you were a good man and legitimately wanted to do good things.
In the book "Pitch Anything" the author recounts what it's like to be a Walmart vendor (the product maker who supplies Walmart their goods). You go in for a meeting and look up at a massive reception desk elevated high above you. You sit in tiny plastic chairs and drink lukewarm water from plastic cups. You are made to wait for a long time after your booked appointment. The narrow corridors have no natural light - resembling a prison walkway. Everything in the building is calculated to make you feel small weak and pathetic. The reason for this is to soften you up for the negotiation where they bully you into under-selling your stock to them at a tiny margin. Just enough for your business to survive but not enough for you to live comfortably.
Oh no, alleged psychological manipulation, how scary. If your stock is actually worth what you feel like you deserve, then you will have no trouble finding someone to sell it to. If you can't sell it at the price you imagine its worth, then perhaps it isn't actually worth what you think it is.
"The bourgeoisie is charitable out of self-interest; it gives nothing outright, but makes a bargain with the poor, saying: 'If I spend this much upon benevolent institutions, I thereby purchase the right not to be troubled any further, and you are bound thereby to stay in your dusky holes and not to irritate my tender nerves by exposing your misery.’" - Friedrich Engels
@@beefsupreme694 but why would a follower of marx want to live in the sick decadent west? It must be torture to live here when glorious socialist paradises like cuba and north korea exist
@@low_vibration Again, childish non-sequitur. Only now with additional unfounded assumptions. I won't waste my time expanding on this debate as you are either a child or someone who's grown up in an echo chamber of American exceptionalism, and never been allowed to deviate (a grown up child) in the slightest, as this would involve reflecting on and questioning the very foundation of your consciousness/identity. And that would take balls..
@@beefsupreme694 no thinking socialism is viable at all is childish. Just because i know socialism is retarded it doesnt mean im all in on what we have now. That zero sum mentality has rotted your mind but that's to be expected from a child who thinks marx had anything intelligent to say
Having worked for extremely wealthy people myself, this is all 100% true. I saw the charity angle get played like a Stradivarius. It's like that line from the beginning of Fellowship of the Ring where the race of men "...above all else, desire power." These same people forced my mother-in-law into retirement _assuming_ she had been able to afford to do so. Our system is f*cked, right now.
And from the flip side of this, my sis ended up quitting after a decade of trying to work for non-profits despite having a masters in non-profit management, because it is exhausting and feels futile when people are constantly exploiting them and undermining their missions with greed. You wouldn't believe the number of well-intentioned non-profits that are ruined by the cycle of: this person gives us all our funding > we have to do what they ask to keep our funding even if they have no clue what the ramifications are, or what's required to implement it > so rich person can brag about 'their' non-profit. It's almost like... we should just tax these assholes appropriately and do our best to provide public services through a system that has ANY sort of oversight!?! --Cue people shrieking about how the government has issues so obviously we should leave these things to sociopathic billionaires instead.
They basically dig a hole where a lot of people die and the non profit is the bread and water they give out of the "godness" of their heart for the volunteers that try to fix the hole.Meanwhile they still make the hole deeper without anyone noticing.
I don't think it's fair to spin the behaviors of a handful of self-selected psychopaths into a commentary about the nature of all people. It seems that way because the people who have mind-boggling amounts of money and power are the ones who at some point in their lives had enough money and power and didn't stop there.
@@screamingintothevoid7257 More like abusing laws of a 200 yo democracy that weren't changed so they're easily abusable and profit the rich people who hold the political power.
@@screamingintothevoid7257 As in the video: the company Patagonia created a non-profit that they control, gave a bunch of money in "charity" to it, but also had a smaller one that they gave the controlling shares to that is controlled by the owning family. Essentially: they made a bunch of PR for themselves, gave money to their own family, and didn't actually have to have wealth and control change hands through the entire thing.
🌴OMG! 😲 Where have you been? 🥰 I’ve missed you and your way of telling it like it really is! I’m looking forward to watching all and getting caught up! 🙏😎✌️
I said to myself "I wonder how he made money off that?" When I heard the news. Figured it was for taxes, but it's so much worse. Thank you for getting the facts out. Love the new delivery.
The use of "charities" by billionaires convinced me a long time ago that we should straight up do away with charitable donations as a tax deduction or at the very least cap it (heck cap it at 25 million - a truly ridiculous number).
I do charitable work through my company in maybe the amount of $2k a year. Maybe more idk because I never write it off. I struggle so much and I still never want to be a billionaire!
Nah, the cap should be median household income. That way, if these rich bastards want to further reduce their tax burden, they'd have to start paying themselves less to begin with.
I care more about restricting which charities count for the deduction. I think too many of the organizations don't use enough of the money to help others, like churches and PETA. If an organization spends 80% of their donations on things other than helping the people/animals they claim to be working for, they shouldn't qualify for tax deductible donations.
The thing most people don’t understand about billionaires is; If it was about money,tens of millions are plenty. Going beyond hundreds of millions in earning is most definitely about POWER. That’s why ol’ Sam drove that actually very nice old truck that wasn’t actually that old back then. He wanted to get that power as soon as possible, it had nothing to do with money or comfort for him.
Cathedrals for example could take 300 years to build. It's a multi-generational deal. There is no societal will to even dream of such commitments anymore. 300 years was enough for the constitution to be irrelevant within gov't structures, so we could argue that we're not even capable of simple maintenance anymore.
While Adam Ruins Everything was happening, I was stuck in a Florida prison, never saw it. I found it recently post-release, and LOVE it. I'm working thru season 2 right now. Stopped by RU-vid to see some notices found your channel, and I instantly subscribed. Thanks for this. It feels like I've said about half the things you end up telling ppl and it's nice to feel vindicated.
It seems ironic that Fern Lovebond is the moniker of an ex-con lol. I don't expect you to say why you were in there but I have to admit I am curious. Not trying to be judgy though. It can be easier than people think to get in there. Anyways I hope you stay free, safe and happy.
